Claims
The Canadian government Tuesday said it would earmark $850,000 to help the B.C. provincial government beef up its tsunami warning system.Public Safety and Emergency Preparedness Canada (PSEPC) will set aside $350,000, while Indian and Northern Affairs Canada will kick in $500,000 in funding for training, telecommunications and tsunami warning capabilities for coastal B.C. communities. PSEPC […]
By Canadian Underwriter | January 18, 2005
1 min read
Two researchers who work with the Institute for Catastrophic Loss Reduction (ICLR) will be heading this week to the World Conference on Disaster Reduction in Kobe, Japan.Dr. Gordon Bean and Dr. Slobodan Simonovic are set to present research to the conference, which has gained the spotlight in the wake of the Asian tsunami disaster.Dr. Simonovic, […]
By Canadian Underwriter | January 17, 2005
2 min read
Manitoba Public Insurance (MPI) says for the first nine months ending November 30, 2004, it pulled in net income of $81.5 million, more than double the $38.7 million reported in the first nine months a year prior.Premiums written were up over the same comparative period to $577.6 million from $526.7 million the year before. At […]
The Vermont Banking, Insurance, Securities and Health Care Administration (BISHCA) says 43 new captives were formed in the domicile in 2004. The forms were varied, with 29 pure captives, 8 risk retention groups (RRGs), and also industrial insureds, sponsored, association and branch captives being formed. Some of the notable new entrants are Wal-Mart Stores, Best […]
By Canadian Underwriter | January 16, 2005
2004 was marked by a series of “disasters” for the insurance industry not just natural catastrophes like the Atlantic hurricanes, but also corporate catastrophe in the form the investigations into broker compensation and non-traditional insurance products. In light of this, the industry needs to focus on “early warning systems” to reduce the impact of these […]
By Canadian Underwriter | January 13, 2005
Although far overshadowed by the December 26th Indian Ocean tsunami, Ohio experienced severe weather just before the Christmas holiday, and the price tag for insurers is likely to top US$85 million.The Ohio Insurance Institute (OII) says the US$85 million is a preliminary figure and losses will likely rise above this. Just 23 insurers have reported […]
CIBC Insurance is providing quotes on p&c insurance from various other insurers, to clients in Ontario and Alberta, via the bank’s website. The site provides a link to online insurance marketplace Kanetix as a service to clients, although CIBC no longer sells auto and home insurance itself. CIBC sold its general insurance operations in 2000. […]
By Canadian Underwriter | January 11, 2005
The world’s megacities face a host of unique risks which have not yet been fully understood, according to a study by Munich Re.In its report to the United Nation’s World Conference on Disaster Reduction, Munich Re presented new research which shows that megacities are exposed not only to natural catastrophes but also technological, environmental and […]
The Financial Services Commission of Ontario (FSCO) has produced two new consumer bulletins. The first, “Shop and Save on Auto Insurance”, outlines the different distribution methods for auto insurance, as well tips on premium savings, such as raising deductibles. The second, a six-page pamphlet, gives “Tips for Identifying Auto Insurance Scams” and includes such things […]
By Canadian Underwriter | January 9, 2005
Breckles Insurance is challenging fellow members of the Insurance Brokers of Toronto Region (IBTR) to a “fundraising challenge” to help victims of the Indonesian tsunami. Breckles’ employees will be raising as much money as they can between now and January 14, and are asking other IBTR members to do the same and to email information […]
By Canadian Underwriter | January 6, 2005
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